June 24, 2024 (Globalinvestorideas.com Newswire) Globalinvestorideas.com, a go-to platform for big investing ideas, reports on trading for Fission Uranium Corp. (TSX: FCU) (OTCQX: FCUUF) Canadian uranium project developer and 100% owner of the Patterson Lake South uranium property – a proposed high-grade uranium mine and mill in Canada’s Athabasca Basin region.

Fission Uranium is trading at 1.1700+0.1400 , gaining 13.59% on acquisition news. The stock had a morning high of $1.185 on volume of over 6.7 million shares as of this report

Paladin Energy Limited (ASX: PDN) (OTCQX: PALAF) and Fission Uranium Corp. (TSX: FCU) (OTCQX: FCUUF) (FSE:2FU) announced they have entered into a definitive arrangement agreement (the “Agreement”), pursuant to which Paladin will acquire 100% of the issued and outstanding shares of Fission (“Fission Shares”) by way of a court approved plan of arrangement under the Canada Business Corporation Act

Transactions Highlights

Fission shareholders will receive 0.1076 fully paid shares of Paladin (“Paladin Shares”) for each Fission share held at the closing of the Transaction (the “Offer Consideration”).

The Offer Consideration represents:

an implied value of C$1.30 per Fission Share1;

an implied equity value of C$1,140 million2;

a 25.8% premium to the closing price of the Fission Shares on the TSX (C$1.03) on 21 June 2024; and

a 30.0% premium to the 20-day Volume Weighted Average Price (“VWAP”) of the Fission Shares on 21 June 20243.

Upon completion of the Transaction, Fission shareholders will own 24.0% of Paladin4, which will have a pro-forma market capitalisation of approximately US$3.5 billion5.

Paladin has applied for listing of the Paladin Shares on the Toronto Stock Exchange (“TSX”) concurrent with completion of the Transaction, such that Fission shareholders will receive TSX-listed Paladin Shares.

Fission’s Board of Directors, following the unanimous recommendation by its special committee of independent directors (the “Special Committee”), and in consultation with Fission’s financial and legal advisors, recommends that Fission shareholders vote in favour of the Transaction.

Cantor Fitzgerald has provided an opinion to the Special Committee to the effect that, as of the date thereof, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the Offer Consideration is fair, from a financial point of view to the Fission shareholders. SCP Resource Finance has provided an opinion to the Board of Directors of Fission, stating that as of the date of such opinion, based upon and subject to the assumptions, limitations and qualifications set forth therein, the Offer Consideration to be received by Fission shareholders under the Transaction is fair, from a financial point of view, to Fission shareholders.

Directors and members of senior management of Fission holding 0.7% of the outstanding Fission Shares have entered into voting support arrangements with Paladin pursuant to which they have agreed to vote their Fission Shares in favour of the Transaction at the special meeting of shareholders to be called by Fission to approve the Transaction (the “Fission Meeting”).

The Transaction is targeted to close in the September 2024 quarter (subject to satisfaction of all conditions under the Agreement).

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